Goldman Sachs offers crypto ETPs in Europe to meet client interest - CoinDesk

Jack Taylor/Getty Images News With ~50% of Goldman Sachs's ([[GS]] +0.0%) family office clients wanting cryptocurrency exposure, the commercial bank's primary brokerage unit is clearing and settling crypto exchange-traded products (ETPs) for a limited number of clients as of now in Europe, CoinDesk reports, citing two people with knowledge on the matter. The race for institutions to adopt crypto products continues as just this week, Bank of America (BAC) also started to clear and settle ETPs for hedge funds in Europe in an effort to meet the demand for these products. Earlier this year, Goldman formed its crypto trading desk, a move it had been considering in 2017. In the crypto world, bitcoin (BTC-USD) is trading at ~$32.1K and ethereum (ETH-USD) is at ~$2,018. In June, Goldman Sachs expands into bitcoin futures with Galaxy Digital.